How can you implement a successful digital strategy for your organization, ensuring that you can solve both current and future business challenges more efficiently and powerfully as the industry continues to evolve?
Standing out in the real estate industry doesn’t just require embracing new technologies, but a comprehensive digital transformation strategy.
How can you implement a successful digital strategy for your organization, ensuring that you can solve both current and future business challenges more efficiently and powerfully as the industry continues to evolve?
Digital Transformation for the Real Estate Industry
Digital transformation is an ongoing strategy, with no definite finish line. As the industry continues to mature and customer needs shift, businesses will need to be able to keep up. For example, you might be looking for a commerce solution so that customers can purchase listings online. Or you might want a tenant portal to manage leases and handle maintenance requests digitally.
But solving your needs with a piecemeal approach can become time-consuming and expensive, especially as your digital ecosystem grows.
Instead, invest in a solution like a digital experience platform (DXP) that can help you solve both current and future needs more efficiently and effectively. A robust DXP provides the architecture and capabilities to solve a number of business challenges, including delivering and managing engaging digital experiences, like portals and websites.
But even among DXP vendors, their platforms may be a complicated suite of products that have been cobbled together, which may result in higher maintenance and integration costs.
Ultimately, you need a solution that can grow and expand with your business organically so you don't have to spend time and money on software that gives your IT team daily integration headaches. That solution is Liferay Digital Experience Platform (DXP).
What Challenges Can Liferay DXP Solve for the Real Estate Industry?
Liferay DXP provides out-of-the-box tools to accelerate the creation of digital experiences. But the platform also gives you the ability to configure, connect, and customize these solutions so that they look and function the way you envision.
This flexibility brings lower cost of ownership, multiple deployment options, and greater customizations.
Over 1,200 leaders around the world have leveraged Liferay DXP to address a variety of digitalization use cases and you can use Liferay DXP as well to build a number of digital solutions such as agent portals, property management portals, tenant portals, and more.
Let’s take a look at some of those use cases:
Tenant or Client Portal
Extend the customer journey after purchasing with a portal that improves the efficiency of customers or tenants and your internal teams using a portal that centralizes resources and tools on a single platform. Use Liferay DXP to:- Provide a single dashboard that can house personalized updates regarding the customer’s property, documents such as contracts or inspection listings, and any next steps that the customer needs to perform, like signing a notice.
- Submit maintenance requests or other help related tasks through a form that will trigger a workload to automatically notify relevant parties.
- Integrate with smart technologies, so that residents can gain insight into their usage and status of devices. AI-enabled systems can analyze data from these smart devices to also predict maintenance issues before they occur and alert the tenant or property manager.
- Design new builds entirely from the portal. For buyers purchasing new property, they can select flooring, paint, cabinet colors, and countertop materials directly from the portal.
- Agent Portal
Liferay DXP can also help improve the digital experience for your agents so that they are more equipped to sell. By building an agent portal with Liferay DXP, you can increase agent productivity by:- Aggregating and visualizing critical data in a consolidated dashboard, such as sales performance, commission amount, and number of open negotiations. Agents have a better understanding of their performance, without needing to reach out to your team.
- Automate manual processes, such as sending follow-up emails or scheduling appointments, so that they can focus on more strategic tasks. With Liferay DXP’s workflow builder, agents can create workflows with a drag-and-drop interface.
- Giving them a single place to communicate and collaborate. With a single tool, agents can work more closely with your organization to discuss sales tactics and updates, through chat features, discussion boards, and forums.
- Tracking and managing leads directly within the agent portal, with integration to lead management tools, instead of needing to log into a separate system.
- Investor Portal
Use Liferay DXP to build a single interface that can help you to interact with your investors more efficiently. Improve investor relations by:- Verifying and onboarding investors quickly. Build workflows to integrate with external systems to verify the accreditation status of investors from within the portal.
- Centralizing investor communications. An investor portal can serve as the single source of truth for your investors to view information about their investments, download digital PPMs, and see any updates or news from your firm.
- Securing the data of your investors with a platform that has robust security programs and features. Liferay has been validated by a number of third-party organizations so you and your investors can rest assured in a secure platform.
- Integrating with AI tools for fraud detection and compliance. AI algorithms can analyze transaction data and detect anomalies that may indicate fraudulent behavior or compliance breaches.
- Commerce Sites
Handle the entire purchasing process online. From putting up listings, to virtual tours, and finally signing a contract, Liferay DXP can help you manage the purchasing journey digitally. Make complex purchasing simpler by:Streamlining content management. Real estate firms can easily update property listings, blogs, news, and market reports to keep their audience informed and engaged.
Enhancing product listings with high-quality images, videos, and interactive walk-throughs.
Integrating to external tools, such as CRMs, MLS, Docusign, and other real estate tools to create a unified ecosystem that enhances operational efficiency. Additionally, Liferay can also integrate with chatbots and AI to provide instant responses to common queries, schedule viewings, and offer property recommendations, improving the overall customer service experience.
- Securing signatures and payments. Security, compliance, and data protection are at the core of Liferay’s product and operations. Liferay DXP has been awarded a number of third-party certifications. For more information, see our Trust Center here.
- Public Sites
Even if the purchasing process can’t entirely be managed online, Liferay DXP can still help you create engaging online experiences. Use Liferay DXP to:
Deliver personalized experiences. With Liferay DXP’s robust segmentation and granular roles and permissioning, you can deliver personalized content and recommendations based on user behavior, local, past search results, and more.
Make it easy for content managers to update. Streamline the creation, management, and publishing of content. Liferay DXP comes with a robust CMS that makes it easy for users to create new pages, edit existing content, and request approval before publishing. So you can have the most up-to-date information on your website, without needing IT’s help.
Support omnichannel experiences. Liferay DXP gives you the ability to support seamless engagement across various digital channels, ensuring consistent and cohesive user experiences throughout.
This is not a comprehensive list of what you can use Liferay DXP for. Because the platform is so flexible, you can use a single platform to create any digital experience you want, your way.
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